Walter, I have been on SI less than a year, on 4 other gold mining threads,
and prior to joining SI I had no interaction with the stock market.
By chance I saw a business report on CNN about the Bre-X mining scam, and
included was an interview with an officer of International Precious Metals
Corp (IPMCF Thread), and with the negative fallout, plus maybe other factors,
I saw a chance to get in at the bottom. Was 14.00, time of CNN report it was 2.00,
and after waiting for it to go below 1.00 (2 months), I started buying.
To me the ratio or percentage moves possible under 1.00 are the odds I will
accept for a gamble. I didn't look at this as an investment or any thing
connected to speculation, buy simply as a gamble. To make money and to save
money for paying bills and future needs I am very conservative. All my saving
is in Bank CDs, guaranteed each day to loose value (inflation-interest),
but also guaranteed that this resulting sum will be there. Easy to predict
how much money you have tomorrow and the long term. No guessing or hoping
or needing luck.
That IPMCF company stock, I brought, in time order:
.88, .75, .63, .50, .33, .25, .... I forget rest
But anyway, the company is now in Chapter 11 Bankrupty Court.
Not because it was a scam, or bad luck or natural disaster, but simply
because no officer or representative of the company would exchange information
on a regular, at least weekly, basis. So events reported were not as good
as the hopefull "hype", and eventho the negative posts on the thread were
guesses, they were true as in "don't trust management".
Another thread I know of is not doing as good as it "should" because eventho
the shareholders on its threader are not employed, they have collectively
enough "job skills" that if the company was more forthcoming with events
at the site, some very costly (share price) effects would not have happened.
So, bottom line for us, MGR shareholders, we have Dave on the thread.
To me, a warm fuzzy security blanket type thing.
Whats that saying, "famous last words", as tomorrow Dave disappears with
all the gold to the planet Mars.
Doug |
